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Friday February 18, 8:01 am Eastern Time
Company Press Release
SOURCE: China Continental, Inc.
China Continental to Receive First Tranche of US$100 Million MTN Funding
HONG KONG, Feb. 18 /PRNewswire/ -- China Continental, Inc. (OTC Bulletin Board: CHCL - news), currently in the process of expanding its operations internationally, said yesterday that it will be receiving by next week the first tranche of US$10 million of its US$100 million Medium Term Note (MTN) funding. The MTN Agreement, which was recently finalized, will be used to accelerate the Company's expansion plans to further enhance its international presence. The total funding is anticipated to be complete within six months.
''This MTN will provide China Continental with the necessary capital to expand our business operations internationally,'' commented Mr. Harry H.H. Ho, Chairman of China Continental, Inc.
In early February, the Company unveiled its plan to establish a strong presence in Pakistan and to develop the dairy industry and related infrastructure there. Yesterday, China Continental announced that it has signed an agreement with Stock Links Investments Management Limited to acquire a 10% stake in Pakistan-based Trust Investment Bank.
About China Continental, Inc.
China Continental, Inc., traded on the OTC Bulletin Board market since 1995, is a holding company with over ten years of experience in developing turnkey businesses. Core activities include supplying manufacturing technology on a turnkey basis, high technology manufacturing techniques in primary industries, and developing and providing technologies in agricultural genetics and farming. The Company's agricultural genetics and farming activities are centralized in the Inner Mongolia Province of China, covering an area of 406 square kilometers to commercialize its genetic techniques in breeding as well as propagating superior livestock and products in its own Research and Development Institute.
Safe Harbor Statement
Except for the historical statements made herein, the statements made in this release are forward-looking statements, including, ''be receiving by next week the first tranche of US$10 million.'' Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, the Company's ability to finalize the terms of the MTN, capitalize on diversification opportunities, government approvals, financing, general business conditions, managing growth, and political and other business risks. Although the Company believes that the forward-looking statements contained herein are reasonable, it can give no assurance that the Company's expectations are correct. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission.
SOURCE: China Continental, Inc. |
